Canal Plus becomes sleeping partner in Orange Cinéma Séries

Canal Plus has become a sleeping partner in the Orange Cinéma Séries channels following the appointment of two independent administrators to replace its representatives on the movie service’s management board.

Canal Plus still retains a one third stake in the channels, but under an agreement struck with regulators to secure re-approval of its 2005 merger with TPS.

The new administrators are Patrick de Bonnières, a partner with audit group Advolis, who was placed in charge of monitoring the implementation of new obligations placed on Canal Plus by the country’s competition regulator in October, and Gilles Delapalme, CEO of portfolio management company Gestion Valor.

Orange is responsible for appointing the four other members of the management board.